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House considers changes to corporate governance aimed at protecting Utah companies from hostile takeovers
Utah House of Representatives · January 27, 2017
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.
Summary
Representative Val Peterson told the House HB 41 would give boards a 'broad constituency' standard and add protections for acquisitions exceeding 20% ownership; the bill would allow companies to opt out via articles of incorporation and mirrors provisions already adopted in other states.
Representative Val Peterson presented House Bill 41 to modify the Utah Revised Business Corporation Act, saying the bill prepares "a way so that companies aren't as easily subject to hostile takeover." He described two primary provisions: a 'broad…
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